News

South Korea achieved $700 million in seaweed exports, breaking record-high performance

Seafood
Frozen Seaweed
South Korea
Market & Price Trends
Published Nov 20, 2023

Tridge summary

Seaweed exports are expected to reach a new record high this year, totaling $708.9 million as of the 10th. Export destinations have also expanded to 120 countries, including the United States as the leading seaweed export country. The Ministry of Oceans and Fisheries is actively promoting the '1st Seaweed Industry Promotion Basic Plan' to achieve seaweed exports of $1 billion by 2027, and they plan to support the industry in obtaining international certification and export vouchers.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Seaweed exports are expected to break an all-time record this year.

According to the Ministry of Oceans and Fisheries, seaweed exports amounted to $708.9 million as of the 10th. This is the highest ever, exceeding $690 million in 2021, which was the highest performance ever. After exceeding $100 million in 2012, seaweed exports reached $300 million in 2015, $510 million in 2017, $690 million in 2021, and $650 million last year.

Export destinations also expanded to 120 countries, including the United States (USD 143 million, 8.3% ↑), the No. 1 seaweed export country, as well as Southeast Asia and Europe. The number of seaweed export destinations, which was 64 in 2010, has nearly doubled to 120 countries in 12 years.

The Ministry of Oceans and Fisheries is promoting without a hitch the ‘1st Seaweed Industry Promotion Basic Plan’ announced last September to achieve seaweed exports of $1 billion by 2027. In addition, in order to foster our seaweed as a global favorite food, we decided to actively support the seaweed industry in obtaining international certification and export vouchers.
Source: Fisheco
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